The famous Alibaba subsidiary Ant Financial recently cashed in on their historic $14 billion Series C funding round which saw the Alipay creator ready to boost its blockchain development.
China’s largest online and mobile payments network which operates Alipay and acquired MoneyGram International last year is focused on using technological advancements in order to better serve its customers. Aside from blockchain, the company is also developing AI technology, IoT projects, and computing fields.
According to the announcement that the company launched a definite agreement with the investors for the Series C with the amount of $14 billion, the funding came from different investors. According to the Wall Street Journal, $11 billion was raised in USD and only $3 billion was raised in RMB.
The lowest investment amount was $200 million and the highest was $500 million in the funding scheme. As an IPO, Ant Financial was looking for a $9 billion investment – compared to the $14 billion that it received as an ICO. Currently, the Chinese company is valued at around $150 billion.
According to the official statement issued by the company:
“The Company will continue to invest in developing its blockchain, AI, security, IoT, and computing capabilities to upgrade its global technology platform for the next generation.”
If Ant Financial goes public, it could definitely be worth more than some of the most hyped US financial firms such as PayPal, BlackRock and Goldman Sachs.
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